Capital Stock

9 Months Ended

Mar. 31, 2025

Equity [Abstract]

Capital Stock

Note 5. Capital Stock

Authorized Capital

Authorized capital stock consists of 200,000,000 common shares with par value of $0.01 per common share as of March 31, 2025 (June 30, 2024 – 200,000,000 common shares with par value $0.01 per common share).

For the three months ended March 31, 2025, the Company issued 906,257 shares of common stock from its ATM program for net proceeds of $335,336 and issued 1,068,745 shares of common stock for payment of interest accrued on its outstanding Royalty Convertible Debenture (Note 6) with a fair value of $375,000.

For the three months ended March 31, 2024, the Company issued 500,000 shares of common stock from its ATM program for net proceeds of $27,241 and issued 1,077,636 shares of common stock for payment of interest accrued (Note 6) with a fair value of $395,833.

For the nine months ended March 31, 2025, the Company issued 1,158,309 shares of common stock from its ATM program for net proceeds of $439,564 and issued 3,194,162 shares of common stock for payment of interest accrued on its outstanding Royalty Convertible Debenture (Note 6) with a fair value of $1,141,668.

For the nine months ended March 31, 2024, the Company issued 4,261,515 shares of common stock from its ATM program for net proceeds of $1,167,893 and issued 2,189,207 shares of common stock for payment of interest accrued (Note 6) with a fair value of $738,670.

Stock Options, Restricted Stock Units and Stock Based Compensation

Paramount’s 2015 and 2016 Stock Incentive and Compensation Plans, which are stockholder-approved, permits the grant of stock options, restricted stock units and stock to its employees and directors for up to 5.5 million shares of common stock.

Total stock-based compensation for the nine months ended March 31, 2025 and 2024 were $524,692 and $259,325, respectively.

Restricted Stock Grants

During the three and nine months ended March 31, 2025, the Company granted and issued 90,000 restricted shares of Common Stock under its equity compensation plan with a fair value of $31,860.

Stock Options

Stock option awards are generally granted with an exercise price equal to the market price of Paramount’s stock at the date of grant and have contractual lives of 5 years. To better align the interests of its key executives, employees and directors with those of its shareholders a significant portion of those share option awards will vest contingent upon meeting certain stock price appreciation performance goals and other performance conditions. Option and share awards provide for accelerated vesting if there is a change in control (as defined in the Stock Incentive and Compensation Plans).

For the nine months ended March 31, 2025, the Company did not grant stock options (nine months ended March 31, 2024 – nil).

For the three months ended March 31, 2025, share-based compensation expense relating to service condition options and performance condition options was $nil and $930, respectively (2024 -$nil and $974).

For the nine months ended March 31, 2025, share-based compensation expense relating to service condition options and performance condition options was $nil and $3,328, respectively (2024 - $nil and $3,643).

A summary of stock option activity under the Stock Incentive and Compensation Plans as of March 31, 2025 is presented below:

Options	Options			Weighted Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at June 30, 2023		1,405,000		$	1.05		2.06	$	—
Granted		—			—		—		—
Exercised		—			—		—		—
Forfeited or expired		—			—		—		—
Outstanding at June 30, 2024		1,405,000		$	1.05		1.06	$	—
Granted		—			—		—		—
Exercised		—			—		—		—
Forfeited or expired		(630,000	)		1.00		—		—
Outstanding at March 31, 2025		775,000		$	1.09		0.78	$	—
Exercisable at March 31, 2025		564,164		$	1.08		0.83	$	—

A summary of the status of Paramount’s non-vested options at March 31, 2025 is presented below:

Non-vested Options	Options			Weighted- Average Grant- Date Fair Value
Non-vested at June 30, 2023		458,336		$	0.47
Granted		—			—
Vested		—			—
Forfeited or expired		—			—
Non-vested at June 30, 2024		458,336		$	0.47
Granted		—			—
Vested		—			—
Forfeited or expired		(247,500	)		0.41
Non-vested at March 31, 2025		210,836		$	0.57

The total fair value of stock based compensation that vested related to outstanding stock options during the nine months ended March 31, 2025 and 2024, was nil and nil, respectively.

Restricted Stock Units ("RSUs")

RSUs are awards for service and performance which upon vesting and settlement entitle the recipient to receive one common share of the Company's Common Stock for no additional consideration, for each RSU held.

For the nine months ended March 31, 2025 and 2024, the Company granted 1,058,000 and 1,360,000 RSUs, respectively.

For the three months ended March 31, 2025, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $390,183 and $(20,938), respectively (2024 - $32,814 and $9,512). For the three months ending March 31, 2025, share-based compensation for performance-based RSUs is reduced by $49,950 due to forfeited RSUs that didn't meet performance conditions.

For the nine months ended March 31, 2025, share-based compensation expenses related to service condition RSUs and performance condition RSUs was $455,839 and $33,665, respectively (2024 - $76,307 and $31,138). For the nine months ending March 31, 2025, share-based compensation for performance-based RSUs is reduced by $49,950 due to forfeited RSUs that didn't meet performance conditions.

A summary of RSUs activity is summarized as follows:

Restricted Share Unit Activity	Outstanding RSUs			Weighted average grant date fair value
Outstanding at June 30, 2023		980,500		$	0.43
Granted		1,360,000			0.28
Vested		(615,500	)		0.42
Forfeited		—			—
Outstanding at June 30, 2024		1,725,000		$	0.31
Granted		1,058,000			0.35
Vested		(1,388,000	)		0.35
Forfeited		(225,000	)		0.22
Outstanding at March 31, 2025		1,170,000		$	0.37

As of March 31, 2025, there was approximately $147,443 of unamortized stock-based compensation expense related to outstanding RSUs. The expenses are expected to be recognized over the remaining weighted-average vesting periods of approximately 1.12 year.